Egypt PM, Kuwait finance minister discuss aid

CAIRO (AA) – Egyptian Prime Minister Ibrahim Mahlab and Central Bank Governor Hisham Ramez have met with the Kuwaiti minsters of finance and cabinet affairs during their visit to the Gulf country.

The meeting tackled means of boosting Kuwaiti investment in Egypt and the continuation of Kuwaiti aid, especially in light of a March economic summit to be held in Egypt's Red Sea resort city of Sharm al-Sheikh, the Egyptian government said in a statement.

Since the ouster of elected President Mohamed Morsi in mid-2013, Kuwait has provided Egypt with $4 billion in aid and grants; $2 billion in the form of a central bank deposit; $1 billion worth of petroleum products; and $1 billion as a grant transferred last October.

The Egyptian government did not, however, specify the form of aid that Kuwait would provide to cash-strapped Egypt in the upcoming period.

Earlier this week, Adnan Abdel-Samad, chairman of the budget and final accounts committee in Kuwait's parliament, said the Egyptian delegation had discussed the country's needs in the upcoming period – especially in terms of petroleum products – with Kuwaiti officials.